business and finance

ASK TONY:I got a £994 bill... years after I left my student digs 

In June 2014 I moved out of a student house I had been living in for two years while at university. The accounts were in my name. We always paid the full amount of our energy bill on time.




business and finance

Is a final financial order on divorce always final?

The court made 40,000 financial orders last year. There will be a concern that allowing some people to reopen their financial order now will lead to hundreds or thousands of similar claims.




business and finance

Banks urged to ramp up lending as just 12,000 small firms get loans

Thousands of firms are finding it near-impossible to access cash under the Government's vital Coronavirus Business Interruption Loans Scheme (CBILS).




business and finance

Household finances drastically hit by the coronavirus lockdown

The IHS Markit UK Household Finance Index, which measures households' perceptions of their financial wellbeing, plummeted to a reading of 34.9 in April from 42.5 in March.




business and finance

Calls for Royal Mail to cut fat-cat pay in response to coronavirus

Sir Vince Cable, who led the privatisation of Royal Mail in 2013, said a reduction to executive pay was the socially-responsible thing to do after bosses axed the dividend last month.




business and finance

Primark sales go from £650m a month to zero as stores remain closed

Primark's owner Associated British Foods said it has furloughed 68,000 Primark workers across Europe and looking to start discussions with landlords to seek help with their lease payments.




business and finance

Coronavirus: Why the oil price has gone negative

Unprecedented is a word that can often be badly used but it is appropriate when it comes to the current conditions in the oil market.




business and finance

MARKET REPORT: Mining shares slump on steel production fears 

Anglo-Australian miner BHP said global steel production - excluding China - could drop sharply this year due to the pandemic. Steel is often seen as an economic bellwether.




business and finance

Ousted John Lewis bosses given £1m each

Paula Nickolds (pictured), the former MD of John Lewis's stores, received £940,000 while Rob Collins, former MD of Waitrose, was handed £890,000.




business and finance

Investors tell Royal Mail to tame fat cat pay after dividend was cut

The former state monopoly decided to cancel its final payout to investors last month, to help bolster the balance sheet.




business and finance

The great oil price crash: Brent crude benchmark hits 21-year low in wake of drastic US slump 

Brent crude, which is extracted from the North Sea and serves as an international benchmark, fell to $18.10 a barrel.




business and finance

Pressure on Bank of England bosses mounts as inflation falls

Inflation could fall to 0.5 per cent over the summer, Howard Archer, chief economist at the EY Item Club, claims. This is well below the Government's 2 per cent target.




business and finance

Fevertree share price jumps Britons buy drinks at convenience stores

Shares in AIM-listed Fevertree, which outsources most of its operations, rose over 13 per cent this afternoon after the group said the in-store arm of its business remained 'robust.'




business and finance

Netflix hopes to gain 23 million new subscribers in the first half

With millions staying indoors, families have turned to the video streaming giant for home entertainment. Netflix has added 15.8m paying subscribers in the three months to March 31.




business and finance

Laura Ashley rescued: Administrators agree deal with Gordon Brothers

The fashion and homeware store went bust last month after it failed to raise emergency cash from its owners, becoming the first household name to fall victim to the coronavirus lockdown.




business and finance

More than two million staff sign up for furlough in two days

HM Revenue & Customs revealed a further 124,000 companies rushed to apply for the Coronavirus Job Retention Scheme on Tuesday, the second day it has been up and running.




business and finance

Ocado accused of 'profiteering' from the coronavirus crisis

Online supermarket Ocado removed 11,087 promotions and hiked the base price of 918 products between March 4 and April 8. Founder and chief exec Tim Steiner's stake is worth some £480m




business and finance

Worse to come for 'broken' oil market as pandemic causes oversupply

On a day of wild swings on global markets, brent crude briefly fell below $16 a barrel - the lowest level this century. It later recovered, surging 10 per cent to more than $21 last night.




business and finance

Victoria's Secret £890bn takeover on the brink

In a lawsuit filed in the US yesterday, private equity group Sycamore said L Brands had failed to adhere to a 'detailed set of obligations' associated with the takeover.




business and finance

Insurance giant Hiscox set to be hit with £142m virus bill

The Hiscox Action Group, representing more than 180 firms says the insurer has issued 'blanket' rejections, knocking back thousands of legitimate claims.




business and finance

MARKET REPORT: Slump in electricity demand shocks Centrica's shares

The utility giant was among the biggest fallers on the FTSE 100 after US investment bank Jefferies downgraded its stock from 'buy' to 'hold' and slashed earnings forecasts by a third.




business and finance

Oil prices went negative this week. What does this mean for us?

On Monday evening, the value of a barrel of West Texas Intermediate (WTI) oil, or Texas Light Sweet, declined to an unprecedented MINUS $40.32. It was the blackest of days for black gold.




business and finance

Virus grants are postcode lottery for small firms

Councils have handed out £6.1bn, almost half the £12.3bn they received from Government this month. Grants of up to £25,000 have been received by 491,725 small businesses




business and finance

Jackpotjoy / Virgin Games owner ends television and radio advertising

Gamesys was praised for acknowledging that children and vulnerable customers who are bored are being placed at risk by the lockdown. Betting companies have been urged to protect players.




business and finance

MARKET REPORT: Housebuilders on rise as sites prepare to reopen

Taylor Wimpey was the top riser on the FTSE 100 after it said it was still selling homes virtually, adding its order book was at £2.7bn at the end of last week, up from £2.4bn the same time last year.




business and finance

Banks under pressure to ramp up their coronavirus rescue lending

While 38,186 firms have applied for a Government-backed loan through the Coronavirus Business Interruption Loans Scheme, just 16,624 have been approved by High Street banks.




business and finance

Just Eat's £6.2bn merger with Takeaway.com is cleared by watchdog 

The online food delivery firm's merger got the go-ahead from the Competition and Markets Authority, who was 'satisfied there are no competition concerns' after its probe of the deal.




business and finance

Norton Motorcycles 'will be restored to former glory', says new owner

India's TVS Motor, which bought the British brand out of administration for £16m earlier this month, is reportedly set to invest tens of millions of pounds in the luxury motorbike maker.




business and finance

Unilever pays out dividend but warns virus crisis means a 'new normal'

Chief exec Alan Jope said he expects the pandemic to prompt lasting changes in behaviour, with strong demand for cleaning products set to continue while the dining industry could face a slow recovery.




business and finance

'A divisive waste of money': Standard Life Aberdeen pulls out of Davos

Standard Life Aberdeen Chief exec Keith Skeoch has come to the view that attending next January would be insensitive to the grim realities of life in the pandemic for millions of ordinary people.




business and finance

Blackmore Bond falls into administration owing savers £45m

Blackmore Bond had failed to hand out interest payments to its investors since October last year. Assurances that it would resume the payments in 2020 fell by the wayside.




business and finance

Rates to stay at 0.1% until end of next year

The Bank of England is likely to keep rates frozen at the all-time low of 0.1 per cent until at least the end of 2021, according to a poll of economists by Reuters.




business and finance

SMALL CAP MOVERS: AIM-listed companies raise £500m to cope with coronavirus crisis

From the market low on 18 March to the start of the Easter weekend on 9 April, junior market-listed firms announced over £500million of funding.




business and finance

MARKET REPORT: Pearson pledges to pay dividend

The education group will hand back £102m to shareholders - or 13.5p per share - after boss John Fallon insisted the company was in a 'strong financial position'.




business and finance

Victoria's Secret revamping image to reverse fortunes

Sales at the US lingerie business have suffered as shoppers shy away from the brand, which is embodied by the scantily clad models who perform in its annual show.




business and finance

Chancellor Rishi Sunak's loan offer for smallest firms

Critics of the Coronavirus Business Interruption Loan Scheme have urged Rishi Sunak to increase the guarantee from the current level of 80 per cent to 100 per cent.




business and finance

Persimmon to restart construction work within days

The company said it will resume building from April 27. Workers will follow strict social distancing rules - except for work deemed 'essential' that requires them to stand closer together.




business and finance

Burberry shuns coronavirus furlough scheme

The British fashion stalwart said a third of its workers would remain at home on full pay, without a penny being billed to the taxpayer, while bosses have taken a 20 per cent pay cut.




business and finance

Britain's economy sinks into deep-freeze as output plummets

The closely-watched Markit/CIPS Flash UK Composite Purchasing Managers' Index fell to a new record low of 12.9 - down precipitously from an already low reading 36 in March.




business and finance

Economic think-tank sounds alarm on household debt

The Institute for Fiscal Studies said households are saddled with £8,000 of non-mortgage debts, totalling £230 billion across the UK. And the coronavirus pandemic means incomes are falling.




business and finance

McLaren receives £300m jump-start during coronavirus pandemic

McLaren, based at a plush factory in Surrey designed by renowned British architect Norman Foster, is also talking to third parties about further boosting its working capital.




business and finance

Big Short boss gets caught out by coronavirus crisis

Steve Eisman told investors last week that the Neuberger Berman Absolute Alpha Fund had dropped nearly 5 per cent in March as the Covid-19 crisis took hold.




business and finance

Taylor Wimpey boss: Give us a plan to get ALL firms back to work

Pete Redfern, the chief executive of FTSE 100 firm Taylor Wimpey, has broken ranks with rival bosses to push the Government to outline a plan to end lockdown.




business and finance

Will Sainsbury's bail out its own bank?

Experts at Barclays have speculated that the supermarket chain could be forced to 'inject capital' into Sainsbury's Bank.




business and finance

STOCK WATCH: Fears grow that BP's Alaska sale may prove half-baked

With oil prices tumbling, investors will be glued to the first-quarter results due out from BP and Shell on Tuesday and Thursday respectively.




business and finance

EasyJet on course for a rescue cash battle with Stelios

EasyJet is heading for its biggest showdown yet with Sir Stelios Haji-Ioannou amid growing speculation in the City that the airline may ask investors to stump up rescue cash.




business and finance

Mike Ashley's Frasers asks suppliers to cut 20% off unpaid bills

Ashley's chains, which include Sports Direct and House of Fraser, have been forced to close amid the Covid-19 pandemic, and are in arrears to suppliers.




business and finance

Rise in abuse by customers prompts Lloyds to protect staff

The bank wants to discourage 'non-essential' customer visits after some of its staff complained in a union survey that irate members of the public had spat on them.




business and finance

American hedge fund Citadel in £275m bet against UK grocers

The move by Citadel suggests Britain's supermarket chains might not be immune to the coronavirus outbreak, even though their shares have held firm so far.




business and finance

John Lewis ready to reopen shops in May

Andrew Murphy, John Lewis Partnership's executive director of operations, said the chain could begin reopening some stores as soon as the middle of next month.